When it comes to desktop virtualization and application virtualization, Citrix Systems is often considered to be a benchmark or a gold standard of sorts. It was a pioneer in virtualization technologies. While remote working as a trend has picked up significantly after the outbreak of the pandemic, companies like Citrix Systems have been building such software applications for years prior to the pandemic. Remote working isn’t just about working at a location away from the office. It is also about being able to work on any device. That aspect reduces a lot of expenses for the company and the deployment of software updates also becomes easy. Cloud computing and desktop virtualization go hand in hand. If you are an investor who believes that remote work is here to stay and are bullish on the future of cloud computing, then it certainly makes sense to look at software application stocks like Citrix Systems.
Citrix Brings Versatility Across Ecosystems
Citrix is known for bringing together multiple ecosystems. For example, Citrix allows Chrome OS users, including Chromebook users, to access Microsoft desktop applications like Microsoft Teams. With such versatility, Chrome OS users can access Google applications as well as many of Microsoft’s cloud-based offerings. Microsoft Teams is expected to grow at a robust pace and virtualization software companies like Citrix are playing a significant role in driving the adoption of virtualization applications. Citrix Workspace app allows users to also access Citrix’s suite of work apps. So, Chrome OS users can also access Citrix applications with the latest update for Citrix Workspace now available to Chromebook users. A Chromebook can now be used to easily conduct voice calls, video calls, and share screens. These are all essential features in a post-pandemic work environment. The software app stock market picks will be influenced by such trends.
The software application market may be undergoing a mental model shift. In the past, the idea for most software application companies was to build a closed system that binds the user to apps from one company. However, there is a gradual realization that an open system is more beneficial in maximizing productivity. Giving customers all the tools that they need and making them available on-demand is now seen as the path to success.